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Cannot load future data so don't know what's going on now. Seems a little bit higher open which usually means a rang day.
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ok, if the data loaded is correct. it looks like a bear flag to me, so bias is down.
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Current market conditions favor fulfillment of down side projections.
Next rest point for ES is ~1970...a break below 2006 and there we go... Cash is King...Don't waste...Don't loose...
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A big down red bar is needed in VXN to confirm another low. They are really pressing volatility of late. However, nothing changed as far as the range. We're still pretty much trapped in this bull market 11-20 range.
The most recent peak in the market never even saw this hit the greedy levels, so I find it hard to believe that was the top. We're still steeped in fear.
VIX daily for JB, seems like the upper BBand wants to be tagged.. but minor div starting to form on smaller time frames… for a possible pullback.. maybe one more quick push/tag up ?(for VIX)..otherwise a very strong up move.. for the VIX.
Been reading MASTERING THE TRADE by John C. Carter...
"If the TRIN closes above 2.0, the market has an 80% chance of rallying the next day." That would be today.
He goes on to say, "The moves the next day won't necessarily be big moves, but they will generally be opposing moves."
Sharing research and ideas only, this is not trading advice.
“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” – Doug Larson
Here is a single issue maybe worth your attention: CF. It's been holding up well while the market goes lower. Maybe a blast-off if the market can turn higher? Just a guess.
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Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.